St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1887-06-10
On the Chicago Board Of Trade the Wheat
Market Opened Bearish Yester-
day Morning.
The Feeling in the Pit Has Become
Somewhat Unsettled Because of Con-
tinued Large Receipts.
The Elevator Blockade Is Raising Con-
tingencies Which Are Creating
Some Apprehensions.
Transactions in the Financial Circles
of Wall Street.-The GEN.
eral Markets.
Special TO the Globe.

Special to the Globe.
CHICAGO, June 9.-The event of the day oc-
CURED this afternoon on the short board,
when Kershaw Il Co., one of the clique
houses sold Rosenfeld Il Co., another clique
house, 5000, 900 bu of June wheat at 92l2c.
This amount changed hands in very few lots.
There was one block of 100000 bu, another
of 100000 bu. and number of blocks of
10O0OO and $4,000 bu. 1t was variously set
down by the crowd as a wash, or as a
transaction to help even up the books. The
enemies of the clique were the people VINO
thought il a wash" Reasonable people be-
Heved that as Rosenfeld had sold out the
most of the June wheat for the clique, this
was Il method to even up the books all
around. The pit was very excited, ana
trading lasted five minutes after the regular
close. July wheat stopped at Soasc;
June at 92iac. July corn at 39i2c, July lard
at S6.72I2 and July ribs at $3.50. June wheat
was down to soc this morning and July to
S5I4c the lowest figures of the week. The
feeling in the pit has become greatly I'M
settled by the receipts. which are much
larger than expected. Then the elevator
blockade is also little alarming raising con-
tingencies which even great clique may not
be able to foresee Partly because of the
alarm over the conditions and partially be-
cause the crowd, half of which had become
tailers, saw no clique buying of July, there
was n great unloading. The July option
sold off a cent from the close of last night,
and the June 4e. 1t began to be thought that
TIE JUNE SQUEEZE
had collapsed. New York dispatches said
that the same tactics were being pursued
there rs here June and July were allowed
-l;, 81 nrDt az
by the clique. The market was caught up
there before it was here. Even when June
was S9I2c, Il decline of sc from the figures of
the day before there was no effort TO rally.
1t, however, went back to 90I4c. July acted
somewhat the same way. Although the
clique brokers gave wheat no apparent sup
port, July rallied l2c. The crowd was puZ-
zled at the phase the pit took on. With no
clique buying of July, and with everybody i'll
the crowd, big and little, in a desperately
bearsh mood the market did not show any
evidences of panic. 1t was after the first
furry was over, only shade under the fig
ures of last night, when Leopold Bloom, by
selling i'll the offices and by darby limiting at
hot wheat got the market down to S57sc for
July. The hot wheat talk is rot and even ma
Hcious There is no hot wheat for the elevator
men declare SO. The fluctuations were wide
enough to create panic among the tailers.
A perfect flood of the June options, held by
all sorts of operators who were banking on
sensational squeeze before the month was
over, came ont when the cornered option got
down to soc. Almost Immediately afterward
it flew back up to 92s4c. Between soc and
92c it advanced with all sorts OF erratic
movements up to the l o'clock close. AS
for July, the professionals, by Lind's>om,
Bloom and others, made Il dead set at it.
There was clique buying of July wheat to-
day to a certainty, but not on scale to make
it decisive whether it was for effect or for
the purpose of getting holdings. Rosenfeld
took certainly somewhere between 100000
and l, OO0, 900 blu. and perhaps as much as
the latter figure. The close at 1 o'clock was
at S5S4c for July.
ROUTINE REPORT.
CHICAGO. June 9.-The wheat market
opened decidedly bearish this morning. The
feeling in the pit has become somewhat I'M
settled by the continued large receipts, and
the elevator blockade is raising contingencies
which are creating feelings of apprehensions.
The clique: to all appearances, paid no at
tention to the market, and the crowd taking
advantage of the situation began selling
freely in small amouts. July opened at 12c
lower at S77sc and dropped to S54@S5Ssc,
but before the close of the morning session
stitfened up somewhat, being a5 quoted ,Sa,ia at
to S9l2c and almost Immediately flew back
to 92I2@93c. Between 90c and 92c its move
ments were very erratic, and showed much
nervousness on the part of the tailers. The
trading in June was limited, but the aggre-
gate volume of business in the futures
was very, heavy. On the Ne, after;
noon board June closed at 92l2c and
July at S57sc. There was little more doing
in corn to-day, specializing being rather
larger than yesterday, but the general tone
was of weakness. Business was mainly of a
local. scalping character, and the country
nrda UnDpro11v from pnrt:pS
who were DESTROYS of covering their short
sales of July, and selling the longer futures
against corn in the crib Opening prices
were fractionally lower than yesterdays
close. July opened at 39lsc, sold to SOC, re-
acted and closed at the opening figures. Oats
for this and next months delivery were in
very good demand and stronger,June closing
at Usage. The new crop futures, on the other
hand, were offered more freely and ruled
weak, August and September resting at 257sc
July opened at 26l2c, sold to 26s4c and
closed at 26s4c. In the provision market the
improvement witnessed yesterday was more
than sustained. Short ribs attracted the prin-
cipal attention. though in lard the trading
for forwarGings exhibited fair freedom from
the start.
THE QUOTATIONS.
The leading futures ranged as follows:
Wheat-No. June. 92c, closing at 92l2c;
July, soc, closing at s54sc; August
closing at S17sc. Corn-No. 2 June, 3Sc,
closing at 37s4c; July, 39lsc, closingat 39lsc;
August, 40lSc, closing ut 40c: September
Ale closing at 4034c. Oats-No. . June
25s4c closing at 25s4c; July, 26l2c, closing
at 2634c; August, 257Bc, closing at 257sc:
September, 2575c closing at 257sc. Mess Pork
Per Dbl, June, S2I, closing at S21. Lard
Per100 lbs. June, S6.57l2, closing at S. 67I2;
July, S6.62l2, closing at S6.72ta; August
S6.7212, closing at S6.S2l2; Septem-
Der, $3.50, closing at $3.50. Short Ribs
Per 100 lbs. June, $7.52G2, closing at 81. 65;
July, S7.52I2, closing at S7.65;
August, $3.50, closing at S7.75; Sep
TENDER, S7.67l2, closing Mt S7.S2ls;
Cash quotations were as follows: Flour
ruled quiet with prices generally from 100
zoe higher than purchasers Iideas. Wheat
No. 2 spring, 91@91l2c: No. spring
wheat, Use: No. red, 91@91I2c. Corn
No. 2, 3Slsc. Oats-No. 2, 257sc RIVE
No. 2, 54c. Barley-No. 2, Soc Flax
seed-No. l, S1.15@1.16. Prime timothy
seed, S1.9011.94. Mess pork, per Dbl, S2O@2i.
Lard, per 100 lbs, $1,000 .6212. Short ribs
sides, loose, 81 .60@17 .62l2 dry sailed should
ers, boxed, S5.6O@5.70; short clear sides,
boxed, S7.90@7.95. Whisky-Distilers
finished goods per gallon, S1.10. Sugars
Cut loaf. Casa Csc; granulated, &c; standard
"a" 5ssc. Receipts-Flour, 10000 bbls;
wheat, 237. 200 Blu; corn. $4,000 bu:
oats, $1,000 bu; rye, 1000 bu: barley
5000 bu. Shipments-Flo 1000 bbls;
wheat, 5000 bu; corn, &c, 900 bu: oats
$4,000 bu; barley, 1000 bu. On the
produce exchange to-day the butter market
was firm; creamery, 13A@I7c; dairy, 12@
15c. Eggs firm at 13@14I2c
o "A NClAJDNDr c@n